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Dear Customer,
Climate change and environmental stewardship: These two pressing issues are of paramount importance to our customers and the utility industry. At E.ON U.S., we are actively engaged in developing innovative technologies and offering our customers energy-efficiency programs so that, together, we can be part of the solution to these critical issues of our time.
To understand where we're going and why, it helps to know the facts behind the issues.
Kentucky is one of the top three coal producers in the United States and has been for the last 50 years. Coal provides 49 percent of the electricity in the U.S. and more than 92 percent of the electricity in our area. Coal-fired generation is a large reason why our electricity costs have been among the lowest in the nation. However, some analysts believe these low costs have contributed to the higher-than-average energy use seen in this area - residential energy usage here is 26 percent above the national average.
Coal is a fossil fuel. Fossil fuels are found in the top layer of the earth's crust and include methane, liquid petroleum and coal. When burned, fossil fuels produce carbon emissions that are considered to be a major contributor to global warming. Because of that, many efforts to address the issue of global warming are aimed at reducing utilities' reliance on coal to generate electricity for their customers.
Currently, there is no technical solution to capture carbon emissions in a cost-effective manner. And, we are concerned with proposals or suggestions that would restrict the use of coal or impose sizeable taxes on coal. As you can imagine, any such initiatives would have a major impact on Kentucky, the energy industry and, ultimately, you - our customers. While Congress still has much to debate, it is very real and almost certain that the price you pay for electricity could increase by double digits if certain proposed federal carbon legislation is approved.
We, at E.ON U.S., endorse a multi-faceted approach to help reduce carbon emissions, focusing mainly on clean-coal research and educating our customers about wise energy use. As we have mentioned previously, E.ON U.S. is a member of the FutureGen Alliance, a group of 13 energy companies that plan to develop the world's first near-zero-emissions, coal-fired generation plant. We also are working with the University of Kentucky's Center for Applied Energy Research for clean-coal research, and we helped form the Western Kentucky Geological Foundation to study the possibility of storing carbon deep beneath the earth's surface. In addition, we are tripling the amount being invested in energy-efficiency programs to offer you the tools and tips you need to reduce your overall energy consumption.
These are steps we are taking. But what action can you take? We encourage you to learn as much as you can about the issue and what your local and federal government officials are considering in relation to it. You can also take steps to become a "Smart Saver" and find ways to use energy wisely.
Rest assured, we will continue to work hard to keep energy costs affordable while providing you with the safe, reliable energy you deserve. This is an issue that will require us to partner together to ensure a brighter future for everyone.
Sincerely,
Victor A. Staffieri
Chairman, CEO and President,
E.ON U.S.
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